Some cities in MI have this but there is always the alternative that if you do not live within X distance you need a local rep/manager or person for them to know about and be able to call.  

It is important that you hire professionals who have experience working with foreign investors.

Are we supposed to hire someone to keep an eye on them?

If what I wrote is not clear to you or if some of my assumptions are wrong, then stop your DIY attempt and hire a tax professional.

They can purchase the parts online and install them themselves, or they can hire a professional and pay the bill.

Definitely hire a real estate attorney to draft or review any seller financing agreement to protect your interests.Ask the real estate attorney how to handle the POA situation...can you talk with any of the other property owners who are short term renting out their properties to see what/if they have any issues? 

You're better off hiring a great home inspector who can determine defects.

Unless you want to do the eviction yourself, hiring an eviction attorney can be expensive.

For an OOS investor managing with just their services, I imagine you'd need their full package which didn't seem significantly cheaper than hiring a local PM.

Vacasa and Evolve hire local people to look after clients they get in areas.